Major religions

Legal information

Exchange

Current number of listed companies

5 listed companies

Listing Rules

The BVMAC is a public limited company with a public service mission, in charge of the organization and management of the sub-regional financial market. The BVMAC sets the conditions for admission to the permanent stock market listing, the method and rules of listing, the method of stock orders entries, the conduct of meetings and the official publication of the stock prices. It also lays down the procedures for the practical implementation of public offers, the mandatory financial coverage of brokerage firms. The main function of the BVMAC is the management of the quotation system and the registration of trades in listed securities. As a market operator, the BVMAC determines the practical rules of operation and admission of securities on the stock exchange as well as the market compartments.

Signatories to the OECD Convention on Combating Bribery of Foreign Public Officials in International Business Transactions?

Signatories to the African Union Convention on Preventing and Combating Corruption?

Ratified?

Arbitration

As a state member of OHADA, the Central African Republic is subject to the OHADA Arbitration Law dated 11 March 1999 which governs the arbitration law of all members of OHADA. It is intended to apply to any internal or international arbitration, whether ad hoc or institutional.

The Uniform Act on Arbitration (Uniform Act) does not limit arbitration to commercial and professional matters - individuals and corporate bodies alike may refer their dispute to arbitration.

Judiciary

There are two kinds of magistrates in Central African Republic:

Magistrates of the seat (em magistrats de siège) ; and

Magistrates of public ministry (em magistrats du parquet or ministère public) who are subject to the authority of the Ministry of Justice.

Enforcement of foreign judgments

A foreign judgment is enforceable only by virtue of an exequatur. The exequatur is granted by a decision of the President of the Competent Court where the defendant is domiciled or where the execution should be carried out.

Effectiveness of the court system

The time it takes for a case to be heard is dependent on the complexity of the case.

Structure of the court system

Foreign investment incentives

The Government of the Central African Republic officially encourages foreign investment, particularly from regional partners in the Economic and Monetary Community of Central African States (CEMAC), the Economic Community of Central African States (CEEAC) and the Organization for the Harmonization of Business Laws in Africa (OHADA). These groups seek to standardize tax policies, customs practices, and commercial law and, in the case of CEEAC, support a free trade zone of member states.

According to the Investment Charter of the Central African Republic, industrial companies or newly created vehicles whose level of investment is less than a 100 million FCFA shall enjoy the customs and tax benefits provided for in the Investment Charter for a period of three years. All companies may apply for Investment Charter Benefits except for those involved in logging, mining and tourism.

Foreign investor rules

In terms of legislation, the Central African Republic has adopted Investment, Act No. 01-010 of 16 July 2001 (the Act). This Act is made under the provisions of the Community Charter Investment in the CEMAC zone, the general framework is intended to improve the legal, economic and institutional domestic and foreign investments in the territory of the Central African Republic

Exchange control

The exchange control regulations in the countries of the CEMAC are based on common provisions arising from their membership in the Franc Zone and the adoption of Article VIII of the International Monetary Fund.

The responsibility for exchange control is held by the Ministry of Finance and the BEAC which may delegate any of their powers to licensed banks and the Post Office.

Payroll tax and social security

The Payroll Tax

10% to 50% tax on gross salaries - payable on a monthly basis (at the latest, payable within 15 days after the end of the month).

The Social Security Contribution is about 15.8% of gross salaries. It is payable on a monthly basis.

Interest

18% on interest paid to a company or individual. Exemptions available

10% on interest paid to a bank or stockbroker account

20% on interest on cash vouchers

Stamp duty

Stamp duty applies to all civil and judicial acts and writings that can be produced in court and to be used as proof.

Value added tax

19% VAT on taxable goods and products payable on a monthly basis.

Losses

Losses may be carried forward for three years.

Royalties

20% paid on royalties to a non-resident.

Export processing zone

There are no export processing zones.

Technical service fees

20% paid to a non-resident company.

Dividends

15% tax rate

Real property tax

0.15

Transfer pricing

n/a

Personal income tax

0.5

Capital deductions

Capital gains tax

10% part of ordinary business income.

Corporation Tax

30% corporate tax on taxable profits on an annual basis.

Thin cap regulations

There are no specific thin capitalisation rules but there are limitations on minimum equity-to-loss ratio.

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